Shanghai Eases Housing Policies
Shanghai will ease property policies starting Friday to boost housing demand. The city lowered the minimum down payment for second homes and introduced subsidies.
China's commercial hub of Shanghai will lower minimum down payments to 15% and offer subsidies up to 80,000 yuan ($11,898) starting Friday. The policy easing targets housing demand outside the city's outer ring expressway. City authorities announced the stimulus measures Thursday to revitalize the local property market.
